NATURAL GAS prices traded with positive bias during the last trading session - Monarch Networth Capital
COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.48200 levels whereas resistance is at Rs.49500- 49600 levels. Buying is advised above Rs.49000 levels for the target prices of Rs.49500 – 49600 levels
* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.71000 levels whereas resistance is at Rs.73000 – 73500 levels. Buying is advised above Rs.72500 levels for the target prices of Rs.73000 – 73500 levels
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.5120 levels whereas resistance is at Rs.5280 – 5330 levels. Buying above 5220 is advised targeting Rs.5280-5330 levels
* MCX Copper looks strong if Rs.750 level is breached. Buying above Rs.750 is advised targeting Rs.760– 766 levels
CHART OF THE DAY
Strategy: Intraday
* NATURAL GAS prices traded with positive bias during the last trading session
* It is having a support of upward sloping trend line as well as Horizontal support line and sustaining above the same
* For Intraday session we expect NATURAL GAS prices to trade with positive bias if price sustains above 244 levels whereas 235 and 230 will act as an immediate support levels
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